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I'd probably choose the AP for a chrono, only because I don't have any APs at the moment. That said, I own the 4500V Overseas, and think it's worth calling out where I think VC is a winner:
1. Price -- you can find them much cheaper on the gray market, and I don't see them being risky investments
2. Movement -- not only does the VC have a sapphire caseback, but their Geneva-seal movements are absolutely stunning, the type of finishing you see on Pateks in the higher price ranges (note that I agree AP's case/bracelet finishing is better)
3. Three watches for the price of one -- You're comparing the AP against the VC on a bracelet, but don't forget you can swap to the included alligator or rubber straps in 10 seconds or less. Makes all the 3rd gen Overseas super versatile IMHO
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